Taking judicial notice of the judgments previously entered against Plaintiffs in the previous actions, the trial court granted Defendants' motion for summary judgment, ruling that those judgments had established res judicata and collateral estoppel as to Plaintiffs' various issues and claims. The circuit court concluded in part that Bank was entitled to call the loan, declare a default on the basis of Company's insolvency, enforce the guaranty agreements, and that Defendants did not breach their duty of good faith and fair dealing.
In addition, ruling that the lower court had properly entered summary judgment for Defendants because all claims were barred by res judicata or collateral estoppel, the Appellate Court noted that all the elements necessary for the application of these doctrines were present in this case.
Ralph T. Wutscher
McGinnis Tessitore Wutscher LLP
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